BOSTON, Oct 02, 2008 (BUSINESS WIRE) -- Converted Organics Inc. (NASDAQ:COIN) announced today that use of the Company's all-natural, organic Liquid Concentrate(TM) 1-1-1 fertilizer at Cape Cod Country Club, one of Massachusetts' premier public golf courses, resulted in improved turf growth and quality, as well as excellent disease suppression, compared to conventional fertilizers previously used at the site.
Mark McEachern, superintendent of Cape Cod Country Club, applied three treatments of Converted Organics' all-natural Liquid Concentrate(TM) 1-1-1 fertilizer at a rate of four gallons per acre to Poa, Bent, Rye and Blue grass on the greens, tees and fairways at Cape Cod Country Club, starting in August. He reduced fungicide application to half-rates, resulting in a significant cost savings.
"The results achieved with Converted Organics' Liquid Concentrate were fantastic, impressing me and the club's owners. The turf definitely increased in population and the overall look and quality noticeably improved. We did not experience a single fungus problem, even at the half-rate application," said Mr. McEachern. "I chose Converted Organics' Liquid Concentrate(TM) due to the stimulation of high levels of soil microbial activity and potential for reducing thatch, and I will definitely continue using it. I am looking forward to utilizing other Converted Organics products as they come to market."
"The professional turf market is a critical and significant customer base for Converted Organics, and we are very pleased that Mr. McEachern's experience mirrored the success we obtained in our own growth trials," said Edward J. Gildea, President of Converted Organics. "We are confident that his experience will serve as a model for public and private golf courses throughout the U.S."
About Cape Cod Country Club
On the borders of the magnificent and serene Coonemessett Lake in Falmouth Massachusetts, Cape Cod Country Club offers an 18 hole championship golf course open to the general public. This Massachusetts golf course was laid out with an interesting variety of undulating fairways and subtly sloped greens wandering through a landscape with charming vistas of lakes and woods. The layout is wonderfully enjoyed by golfers of all skill levels. Home of three USGA Massachusetts Opens and the annual host of the Cape Cod Senior Open golf tournament, Cape Cod Country Club is proud to be always open to the public.
About Converted Organics Inc.
Converted Organics (NASDAQ:COIN), based in Boston, MA, is dedicated to producing valuable all-natural, organic soil amendment or fertilizer products through food waste recycling. The company uses proven, state-of-the-art technologies to create a product that helps grow healthier food and improve environmental quality. Converted Organics plans to sell and distribute its environmentally-friendly fertilizer products in the retail, turf management, and agribusiness markets.
Converted Organics' fertilizer products will be produced in both a dry pellet and liquid concentrate. Converted Organics' products have been tested in numerous field trials for more than a dozen crops with the result that, on average, the net value of the farmer's crop increased 11-16%, depending on the particular crop and product application. This is due, in part, to the disease suppression characteristics of the product, which reduce or eliminate the need for other costly, often toxic, crop protection applications. Increased use of nitrogen in commercial agriculture and turf grass applications, such as golf courses, has reduced the soil's ability to absorb nitrogen and other nutrients. Using the products produced by Converted Organics helps restore the soil by replenishing these micronutrients. This reduces the amount of nitrogen required in a virtuous cycle that benefits from long-term use. As a result, use of the product will reduce chemical run-off to streams, ponds and rivers, an objective with significant long-term benefits to the environment.
The products have a long shelf life compared to many other organic fertilizers. In a number of lab and field trials, the liquid product has been shown to be effective in mitigating powdery mildew, a leaf fungus that affects most plants and grasses and restricts the flow of water and nutrients to the plant. The Company's fertilizer products can be used on a stand-alone basis or in combination with more traditional fertilizers and crop protection products. Converted Organics expects to benefit from increased regulatory focus on organic waste processing and on environmentally-friendly growing practices.
This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in "Risk Factors" in the prospectus, not all of which are known to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.
SOURCE: Converted Organics Inc.
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